The Bank of England has signaled the possibility of reducing interest rates in August, marking the potential first cut in borrowing costs in over four years. During its recent meeting, the Bank voted to maintain interest rates at 5.25%, though the decision was closely contested. Earlier reports indicated that inflation, which measures the rate of […]
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The Nigerian Electricity Regulatory Commission (NERC) has approved an interim agreement to procure 450 megawatts of electricity from Zungeru Hydro Electricity Generation Company Limited. This decision, outlined in notice order NERC/2024/044 signed by Vice Chairman Musiliu Oseni, aims to prevent the shutdown of the newly completed Zungeru hydropower plant, which has a capacity to generate […]
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Inflation in Turkey surged to 75% in May, up from 69.8% in April, marking what economists believe will be the peak before prices begin to decline. KEY POINTS ccording to the Turkish Statistical Institute, a government agency, consumer prices rose by 75.45% annually and 3.37% monthly in May. The sectors with the steepest annual price […]
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Phillips Consulting (pcl.) has Launches the ‘Talent Management Report 2.0,’ a comprehensive guide for optimizing talent strategy in today’s competitive business environment. The report was launched at the Talent Management 2.0 Event, which brought together HR managers and industry leaders to discuss transformative talent management practices. The landmark event provided valuable insights and strategies for […]
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The President of Kenya, William Ruto, plans to host a conference on Africa’s blue economy, which is projected to grow to $405 billion by 2030. This was announced in a press release titled ‘Blueinvest Africa 2024: An Invitation to Investors to Support the Blue Economy in Africa.’ According to the organizers, Africa’s blue economy currently […]
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Countries across Africa have been urged to leverage the African Continental Free Trade Agreement (AfCFTA) protocols to boost their economies and improve food security in the sub-Saharan region. This call comes in light of the revelation that Africa currently has the lowest inter-regional trade globally, representing only about 13% of the continent’s total trade, compared […]
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As the global food crisis intensifies, the World Bank has ramped up its efforts to combat rising food insecurity, particularly in Africa. In an update released on Monday, the Bank announced that it has now committed $45 billion, surpassing its initial pledge of $30 billion over 15 months. This funding comes from a combination of […]
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Good afternoon, everyone! I would like to extend my gratitude to Chatham House for inviting me to speak today. It is wonderful to be back at this globally renowned think tank, where contemporary issues are rigorously debated and discussed. The last time I addressed this audience was during my campaign for the presidency of the […]
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The Nigeria Deposit Insurance Corporation, acting as the liquidator of Heritage Bank, has listed the bank’s head office in Lagos and its branches nationwide for sale. The Nigeria Deposit Insurance Corporation (NDIC) announced the sale of 48 Heritage Bank properties and various chattel, including vehicles, office equipment, plants, and machinery at 62 locations nationwide. The […]
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Speaker of the House of Representatives, Hon. Abbas Tajudeen, along with the Joint Committee on Power, National Planning and Economic Development, Commerce, and Delegated Legislation, criticized the (NLC) and several (CSOs) on Tuesday for failing to attend a public hearing on the recent electricity tariff hike. The House had following the public condemnation that trailed […]
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